UK Accounting Glossary
The Consumer Confidence Index (CCI) gauges the level of optimism of Americans toward the U.S. economy. The Consumer Confidence Index is determined by The Conference Board, a business and research group. Each month it asks U.S. households how they rate business conditions and job availability, as of now and six months from now. It then calculates an overall Consumer Confidence Index, as well as a Present Situation Index and an Expectations Index. The data for the Consumer Confidence Index is collected during the first 18 days of the month and released on the last Tuesday of the month at 10 AM. The Consumer Confidence Index has historically been used as an indicator of future consumer spending. Thus the Consumer Confidence Index points to the overall strength of the economy and, in turn, the inflation outlook. Some economists question the value of the Consumer Confidence Index, however, noting that actual consumer spending doesn’t always track what the Consumer Confidence Index predicts.
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This glossary post was last updated: 4th February 2020.